Is the property that was left behind after Close of Escrow mine?
I was sitting in a class yesterday and the question came up. "Is the property that was left behind after close of escrow mine?" Now many times the answer would be "who cares". An old can of paint, broken toys, a chair that was ready for the dump. Take it please! In this case, however, it was a bit different. We talked about the possibility that the former occupant left behind remnants of an Estate Sale. Maybe Grandma's old chair from the WWII era. One that Antiques Road Show would shock you at the value. What happens now?
Surprisingly, the group, which was composed of about 20 Realtors, all had different responses. You see, the thought process is, you left it, you didn't want it, so now it is "mine"! This happens more times that you can imagine. After all, who wants to pay movers to take the old 300lb safe to my new house. Just leave it. Let the new owners deal with it. How about in a Short Sale, when the owners vacate in a hurry for fear that they will get a knock on the door in the middle of the night telling them they have to leave? There are many reasons people leave stuff behind in the basement, rooms or forgotten attic. What do you do? Is the property that was left behind after Close of Escrow mine?
Here is the answer. Talk to your Arizona Realtor. They will want to send the sellers' Realtor a three day cure notice. In the meantime, you should take inventory and take pictures of the items. Store them safely! If after the three day cure notice the items are not removed, you have the right to the damages suffered which include removal of the items and storage. Are they yours after that? That depends... A court will decide. In many cases you will have to return them. This is probably a good thing, since the odds of the chair or table they left being a true treasure, is really slim and none.
Good luck in your knew home, and finally, don't forget that last minute walk through!
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